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Xauusdtrade

Gold market commentary on 2/3/2023Spot gold extended its rally on Wednesday, hitting an intraday high of $1,844.47 a troy ounce. XAU/USD pulled back from the level amid resurgent US Dollar demand following tepid United States macroeconomic figures but holds on to most of its intraday gains. Broad USD weakness ahead of data and the risk-averse ruling environment maintain Gold on the winning side. Market participants have been moving away from the Greenback these days amid positive news affecting its major rivals coupled with tepid American macroeconomic figures. This Wednesday, the country released the February ISM Manufacturing PMI, which resulted at 47.7, barely improving from the previous 47.4 and missing the expected 48. However, the survey shows that “new order rates remain sluggish due to buyer and supplier disagreements regarding price levels and delivery lead times,” indicating persistent price pressures. The report triggered a run to safety, which temporarily benefited the USD. At the time being, Wall Street’s indexes trade mixed but off their early highs. Government bond yields, on the other hand, run higher, with the yield on the 10-year Treasury note currently at around 4.0% and the 2-year note yield hovering near a 16-year high of 4.904%. Support levels: 1,825.90 1,812.20 1,803.00 Resistance levels: 1,848.00 1,863.70 1,877.50 Recommendations for trading gold: Buy GOLD 1830 - 1829 Stop Loss: 1825 Take profit 1: 1835 Take profit 2:1840 Take profit 3: 1850 Sell GOLD 1845 -1846 Stop Loss: 1850 Take profit 1: 1835 Take profit 2:1830 Take profit 3: 1825 Note: Always set TP and SL in all trading cases If you have any questions or support, please leave a comment
TVC:GOLD
by DNAchampions
1
Down Goes Gold.. Learning Why These Moves HappenSo, we looked Short on Gold repeatedly.. and with good reason! If you saw my posts and streams previously we looked at levels where we could look to get short. We can now RE learn from this move for future reference and we can also plan out longs as price falls. Remember, what comes up has to come down. It's inevitable. It's just how things work.. You need to: 1) Reflect on high the price is 2) Reflect on previous zones and what happened before. 3) appropriately assess your Risk Plan + sentiment of the market. We can look to exit the short positions you had and take the gains RE short higher. We are Looking to take long bounces as price falls to levels shown. As always trade small and light!
OANDA:XAUUSD
by WillSebastian
2
Gold Day AnalysForex and gold is a market full of potential but also a lot of risk, so practice and equip yourself with the necessary knowledge. Our pivot point stands at 1912.00. Our preference The upside prevails as long as 1912 is support. Alternative scenario The downside breakout of 1912 would call for 1901.50 and 1895.50. Comment The RSI is trading above 70. This could mean that either prices are in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Gold is above its 20 and 50 period moving average (respectively at 1911.30 and 1904). Supports and resistances 1951.50 ** 1945.50 * 1939.50 ** 1933.00 1920.20 last 1916.00 1912.00 ** 1901.50 * 1895.50 ** Number of asterisks represents the strength of support and resistance levels.
OANDA:XAUUSDLong
by talhashaheen
2
XAUUSD - GOLD CURRENT SITUATION#XAUUSD According to the analysis we gave to XAUUSS earlier, GOLD went UP very fast in the previous weeks, BREAKING the TREND LINE. Due to this US10Y went down. The dollar has strengthened after the December FOMC. All MARKETS including STOCKS and COMMODITIES are going down slightly due to the OFF of MARKET RISK. RETAIL SALES, NFP and PMI DATA, CPI DATA should be monitored. But since all the ECONOMIC INDICATORS were positive the other day, GOLD was slightly SELL yesterday. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being OFF. We have some very important NEWS coming to USD this week. Be sure to keep an eye on it. Anyway, we expect that GOLD will go up to 1875 LEVEL. Before that, GOLD may go down to the 1795 level with the FOMC UPDATE. Be careful..
OANDA:XAUUSD
by benny_marshall
gold Analyse, xauusd analyseAt the same time, the pressure and talks of Hawkish from the Fed, BOE and ECB, and of course the central banks of several other countries, the selling pressure has prevailed on gold. According to the PMI and before the meetings of the central banks last week, it seemed that the selling pressure on gold has decreased, but with the emphasis of the central banks that the time to increase the interest rates in America, Europe and England will be long, the selling pressure on gold will rule again. Of course, the publication of core PCE news on Friday can be important. If the output of the meeting is a soft number, we can expect the selling pressure on gold to decrease, and if it is far from the forecast, other events are coming. Of course, due to the upcoming holidays, we cannot expect a large volume in the market. Please pay attention to capital management (at the end of each month, a statement is provided based on this capital management) Capital management method: 1) only 1% risk 2) In 1-to-1 RR, we are risk-free and withdraw 50% of the profit. 3) When it reaches RR one to two, we move the stop loss to the TP of the first point and below the pivot , and in the same way, we move with the price in different RRs .
TVC:GOLDShort
by Amir-Maleki